A recent article in Forbes focuses on the need for US Corporations to pay more than lip service to diversity and how the new "Super-Consumers", the minorities in the US, will define the brands of tomorrow.
“Minority” groups will represent 54% of America’s population in less than 30 years, yet America’s corporations are still uncomfortable with the changing face of this country. Corporations need to educate themselves more about the new consumer groups they must serve in order for their brands to stay relevant. Right now, corporations are dividing the United States by segmenting consumers, and focusing more on free market enterprise instead of cultural unification. That’s why diversity has become a term that is dividing this nation, because the “elite classes” in government and business view diversity and all that it’s become associated with as an inconvenient but necessary evil.
US Hispanics are already "defining the brands of tomorrow." US Hispanics are ahead of Non-Hispanic whites in terms of Lifetime Consumer Spending. According to a 2011 study by Geoscape, a consumer research outfit, the Lifetime Consumer Spending by US Hispanics exceeds that of non-Hispanic whites in the US by 16%.
The Forbes article on the New Super-Consumers here.
